Los Angeles Capital Management LLC Purchases 2,546 Shares of Fabrinet (NYSE:FN)

Los Angeles Capital Management LLC grew its position in Fabrinet (NYSE:FN) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,532 shares of the technology company’s stock after purchasing an additional 2,546 shares during the period. Los Angeles Capital Management LLC owned approximately 0.08% of Fabrinet worth $6,493,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of FN. Cynosure Group LLC lifted its stake in Fabrinet by 3.4% in the 3rd quarter. Cynosure Group LLC now owns 1,560 shares of the technology company’s stock valued at $369,000 after acquiring an additional 51 shares in the last quarter. Huntington National Bank raised its holdings in shares of Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after purchasing an additional 57 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Fabrinet by 5.7% in the fourth quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company’s stock worth $245,000 after purchasing an additional 60 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in Fabrinet by 2.4% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company’s stock worth $647,000 after purchasing an additional 68 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in Fabrinet by 2.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company’s stock worth $721,000 after purchasing an additional 82 shares during the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.

Fabrinet Stock Up 5.4 %

FN opened at $215.33 on Thursday. Fabrinet has a 12-month low of $159.69 and a 12-month high of $281.79. The business has a 50 day moving average of $224.88 and a 200-day moving average of $234.52. The stock has a market cap of $7.81 billion, a price-to-earnings ratio of 24.09 and a beta of 0.92.

Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.10). Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. As a group, analysts expect that Fabrinet will post 9.4 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on FN. Barclays lowered their price target on shares of Fabrinet from $292.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. JPMorgan Chase & Co. lowered their target price on Fabrinet from $275.00 to $265.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Fox Advisors started coverage on Fabrinet in a research report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price target for the company. Rosenblatt Securities raised their price target on Fabrinet from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Finally, B. Riley cut Fabrinet from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fabrinet currently has an average rating of “Hold” and a consensus price target of $246.63.

Fabrinet Company Profile

Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.